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The problem with involving the PBO in elections Apr 12th
Parliamentary Budget Officer Jean-Denis Frechette waits to appear before the Commons infrastructure committee, Tuesday, February 21, 2017 in Ottawa. (Adrian Wyld/CP)
Yesterday, the Government of Canada tabled legislation to implement Budget 2017. These Budget Implementation Acts (often 2 are neede.... More »
Tax Benefits of Health Insurance Dec 6th
Personal Health Expenses
In many cases health plan related expenses can be declared as tax deductible expenses when filing
taxes. This is true for both individual plans and employee benefit plans.
According to the Canadian Revenue Agency (CRA), the premiums for a private health insurance plan that
.... More »
Rising rates are good news for near-retirees seeking longevity insurance + MORE Jun 29th
For years, low interest rates have been a boon to borrowers but a curse to older investors wanting low-risk interest income options. Now, after a decade of minuscule rates, interest rates are starting to inch back up again: another 0.5% as of June 1st. That’s good for GIC investors (guaranteed inv.... More »
Refugees and the long political journey + MORE Dec 13th
(BULENT KILIC/AFP/Getty Images)
Given where they are coming from, those 7,300 Syrian refugees who will arrive in Montreal by the end of 2016 will likely welcome the display of banal Canadian bureaucracy set up in their honour. They will taxi into Trudeau Airport and be taken to a special screening a.... More »
Should seniors cancel their life insurance policies? Dec 15th
Ask MoneySense
My husband is about to turn 60 and we have to make a decision to continue with a life insurance plan or to let it go.
We no longer have a mortgage, and we are in process of taking care of our own funeral arrangements, so our kids don’t have to worry about it.
I’ve been retir.... More »
Just visiting: Stock-picker flirts with real estate
– moneysense.ca
Getty ImagesI love to spend a few weeks each summer lounging by a lake. This year I rented a little cottage outside Lion’s Head, Ont. located just a few steps from the waters of Georgian Bay.
It’s hard to visit cottage country without dreaming about buying a little slice of heaven.
While owning a cottage has some obvious benefits, it tends to be a costly affair. Crunch the numbers and you’ll likely discover the relative advantages of renting.
For instance, it’s possible to buy a waterfront cottage between Wiarton and Tobermory—roughly 4 hours from Toronto—for, perhaps, $300,000. But that represents the low-end. Those looking for luxury could spend a million dollars or more.
Three hundred thousand dollars might seem like a bargain to house hunters in Toronto. But it is pricey for something that will be used for only a few months of the year.
The initial property cost is joined by a slew of on-going expenses in the form of maintenance, taxes, insurance and utilities…
